Re: Lease/Option Sandwich TAX HELP!!!

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Posted by Dave T on February 08, 2010 at 14:25:33:

In Reply to: Re: Lease/Option Sandwich TAX HELP!!! posted by randyOH on February 06, 2010 at 12:15:19:

randy,

Bob does not own the property he rents. Bob sublets the property he rents from others. Bob has no responsibility for maintenance, repairs, hazard insurance, or property taxes. Bob has none of the benefits and burdens of property ownership.

Bob has an active income business NOT a psssive rental activity. Schedule C is the correct form to use.

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